Fed looks certain to raise rates

The Federal Reserve has not raised rates in almost 10 years but looks almost certain to do so on Wednesday.

PHOTO: REUTERS

CALL it hike-o-phobia. The Federal Reserve has not raised rates in almost 10 years but looks almost certain to do so on Wednesday. The proximity of higher interest rates has sent commodities, currency and stock markets into a state of anaphylactic shock reminiscent of the financial crisis.